Consumer Credit and Privacy Compliance
Online research tools to manage compliance with federal and state laws and regulations
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Last Week, This Morning
Key developments from the past week in consumer and commercial finance and privacy law.
CFPB Updates Supervision Designation Procedures for Nonbanks Posing Risks
Kansas Will Require Commercial Financing Transaction Disclosures
Massachusetts AG Issues Advisory on Applicability of State’s Consumer Protection, Anti-Discrimination, and Data Security Laws to Artificial Intelligence
AFSA Releases First Consumer Credit Conditions Index
CFPB Imposes Ban from Consumer Lending Activities and $164,000 Penalty on For-Profit Vocational School and Its Founder for Hiding Loan Costs from Students
Draft, Bipartisan Federal Data Privacy Bill Released
Spring Edition of CFPB’s Supervisory Highlights Focuses on Credit Reporting and Furnishing
Kentucky Expands Provisions Governing Amendment of Recorded Mortgages
Wisconsin Revises Laws Governing Licensed Financial Services Providers
Iowa Authorizes Remote Work by Mortgage Loan Originators
Arizona and West Virginia Amend RTO Statutes to Address Virtual Hang Tags
Significant Changes Made to Kansas Mortgage Business Act and Uniform Consumer Credit Code
Three Trade Groups Sue in Federal Court to Invalidate Colorado DIDMCA Opt-Out
California Bill Would Subject Small Business Debts to State Debt Collection Law
CFPB Monitoring Use of In-Game and Virtual Currencies Within Gaming Industry and Provision of Gaming-Specific Financial Products
FHA Extends Partial Waiver of Face-to-Face Interview Requirement for Mortgagees
Hudson Cook Insights
Today's Trends in Credit Regulation
FTC Announces Telemarketing Sales Rule Amendment Regulating B2B Telemarketing
By Michael A. Goodman
On March 7, 2024, the Federal Trade Commission announced significant amendments to its Telemarketing Sales Rule. The effective dates for these changes are tied to publication of this announcement in the Federal Register, which has not yet happened. article continued
New York Financing Arrangements Bill Would Have Major Implications for Commercial Financing
By Thomas P. Quinn, Jr.
A bill before the New York State Assembly would, if passed, have major implications for a variety of financing transactions in the Empire State. Titled the End Loan Sharking Act, Assembly Bill 9585 would subject a variety of products to the state's usury limits and licensing requirements. article continued
CFPB Bites of the Month - March 2024 - Here Comes the Sun and the CFPB
By Justin B. Hosie, Eric L. Johnson and Laura J. Bacon
In this month's article, we share some of our top "bites" covered during the March 2024 webinar. article continued
FCC Continues to Roll Out TCPA Changes and Interpretations
By Michael A. Goodman
On February 16, 2024, the Federal Communications Commission released a Report and Order establishing significant new standards regulating Telephone Consumer Protection Act consent and revocation of consent. In recent weeks, the FCC has announced guidance relating to the use of lead generators and prerecorded messages involving artificial intelligence. article continued